North America and Europe Phototherapy Treatment Market for Acne and Psoriasis to Reach US$ 2,465.8 Mn by 2027
Phototherapy has emerged as an effective and contemporary treatment module for acne and psoriasis, which is gaining healthy popularity of late. As compared to biologics, phototherapy is more affordable having a similar credibility. Over the next couple of years, demand for phototherapy in regions such North America and Europe is expected to surge to a significant extent. Future Market Insights’ new report reveals that the North America and Europe phototherapy treatment market revenue is expected to expand at a CAGR of 6.0 % over the forecast period (2017–2027).
Distorted eating habits, as well as excessive consumption of fried and ready-to-eat food items, are linked with the early onset of acne in children. Meanwhile, in adults, women face severe acne and psoriasis onset. The report titled “Phototherapy Treatment Market for Acne and Psoriasis North America and Europe Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027” also cites that North America represents the most lucrative market for phototherapy, followed by Western Europe and Eastern Europe. The market in North America is projected to grow from US$ 594.5 Mn in 2016 to US$ 1,150.0 Mn by 2027-end. In addition, the U.S. currently accounts for more than three-fourth revenue share of the North America phototherapy treatment market.
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Increasing adoption of phototherapy in dermatology clinics and hospitals in Europe is favouring the growth of the market in the region. Moreover, psychological burdens associated with acne and psoriasis is high in the region, compelling patients to seek professional help in the form of prescription treatments, phototherapy, and others. Germany and the UK are two of the major markets for phototherapy in Europe and expected to remain dominant throughout the forecast period.
Key Excerpts from the Report Include:
Based on end user, hospitals currently account for the largest value share of the phototherapy treatment market for acne and psoriasis in North America and Europe. However, preference for home care settings among patients is likely to grow in the near future.
Demand for blue light therapy is relatively higher than other phototherapy types in both North America and Europe. This trend is expected to continue throughout the assessment period. The blue light phototherapy segment is estimated to reach a market valuation of US$ 1,067.1 Mn towards the end of 2027.
Phototherapy being a high margin reconstructive technology is perceived as an opportunity for market players to invest in future growth. Lifespan, UC Irvine Health, Buffalo Medical Group, Blackrock Clinic Limited, The Private Phototherapy Clinic Ltd, National Skin Centre, and Massachusetts General Hospital are some of the leading companies profiled in the FMI report.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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